10 steps to incorporating in Hungary

The process of business incorporation in Hungary as well as the opening of its corporate bank account involve a series of simple steps. Our Client will not have to travel to the country to start their company, provided that a Power of Attorney is issued to our Hungary incorporation agent who will then complete all procedures on his behalf.

The procedure to incorporate a business in Hungary are as follows:

PRE-INCORPORATION PLANNING

Following a detailed consultation with our Client, our Firm requests our Client to i) settle the fees payable for the engagement, ii) sign and email us back our engagement letter and iii) provide us all requested due diligence documents from each shareholder, director and beneficial owner of the company;

Our Incorporation Team will then perform a company name search with the Company Hungary. If available, we reserve the name on your Firm’s behalf;

Healy Consultants prepares a detailed project plan for our Client, mapping each step for Hungary business incorporation then corporate bank account opening steps. This engagement project plan is tailored according to the kind of business entity to be incorporated.

INCORPORATION PROCEDURE

The exact corporate structure of the company is agreed upon between our Firm and our Client, subsequently, we prepare i) declaration and establishment deed, ii) declaration of registered capital and iii) registry of members, and send our Client to provide us with their electronic signature;

On the Client’s behalf, our team opens a capital account and obtains the certificate of deposit for an agreed amount;

Once we receive all the documents, we submit the same to the Registration Court to complete the incorporation of the new company. The company will be usually registered within two business weeks, after which we email the warrant of incorporation to the Client.

POST-INCORPORATION PROCEDURE

Once company is incorporated, our Banking Team will transfer the capital account to a fully functional corporate bank account within four business weeks. We work with internationally recognized banks present in Hungary, such as Raiffeisen and local banks such as OTP Group to provide corporate bank account services. Our Incorporation Team will also liaise with the bank to prevent our Client having to travel for bank account opening interview;

Following corporate bank account number issuance, we request the bank to activate internet banking and issue secure devices to the company’s directors. However, we expect our Client to receive his debit/ credit card within two weeks thereafter;

The Hungary engagement is now completed. At the end of the engagement completion, Healy Consultants couriers a company kit folder, to our Client’s preferred international address, containing the following corporate documents including original corporate documents, unopened bank correspondence. Lastly, we provide our Clients with a Client feedback survey to assess the quality of our Hungary company incorporation services.

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Testimonial

“Pirster Pte is happy with the work that Healy Consultants undertook for the company. International incorporation can be fraught with opacity, anxiety and vulnerability - especially if it is being done remotely as we did. Healy Consultants worked really hard to make it transparent, straight forward and confidence-inspiring. I look forward to working with Healey Consultants again on future work and happily recommend them to others.”

Fiona Thompson, Managing Director Pirster Pte.

“We had taken Healy Consultants assistance in incorporating our entities in some of the complicated jurisdictions. Their approach right from the beginning has been very systematic, clear and efficient. It has been a pleasure to work with all of them.”

“Thank you Healy Consultants for swiftly project managing my engagement. From the moment I met you in Singapore Healy Consultants attended to my requirements and specific needs. I am more than satisfied with your service. Moreover, your weekly updates allowed me to continue to focus my attention on my global business while trusting you to deliver as promised.”

“Thank you Healy Consultants, you were instrumental in setting up of my Hong Kong based company, the whole process was completed in a professional and timely manner.”

Terry Skews, CEO Brittany Offshore Limited

“Healy Consultants, a professionally managed firm with clear understanding and knowledge about what client expects from them and delivers the same in a professional and timely manner. Kudos to their team.”

“Incorporating any company is comparable to setting the foundation blocks of your new company building, which you aim to build in the best location available. By choosing Healy Consultants you are laying the perfect foundations.”

“The one word that defines Healy Consultants is perfect professionalism. If you have Healy to set up your business abroad, you could focus on the operational overhead and let Healy take care of the rest. From Incorporation to Taxation, it’s a one stop solution. Rest assured, you will have the best people in the Industry working for you and providing you with the best possible information and suggestions.”

Raja Chakraborty, Director Streamlyn Pte. Ltd.

“Thank you Healy Consultants for successfully project managing our business set up in Kuwait, Lebanon, Qatar and Bahrain.”

“When it was time to establish a Space Academy in Singapore, TriVector needed a knowledgeable firm that could not only help us establish our infrastructure, but could also advise on the local and regional business climate. Healy was that firm, which is why we've been satisfied Healy Consultants for almost five years now.”

Timothy F Kauffman, CEO Trivector Services

“Finding the right partner was critical for VESL’s expansion in Asia and working with Healy Consultants has made this possible.”

“Healy Consultants were instrumental in the set up of our company. They have continued to provide exceptional support and advice over the years.”

Susan Gunnery, Managing Director Qudoss Group

“Healy Consultants is the best firm that we have ever worked with. Through our entire business relationship we were satisfied with provided level of quality and services. Healy Consultants have been responsive and detail oriented which has allowed us to stay focused on our business and not getting distracted with small details.”